TISCO least affected from price increases

TISCO least affected from price increases

According to a recent statement released from Indian steel producer Tata Iron and Steel Corp (TISCO), the company is affected from the steel price issue in India lesser than the other producers in the country. An official from TISCO stated that, price increases do not have a significant effect on the production and sales of the company as 90% of TISCO's products are sold through long-term contracts. Meanwhile, other major Indian steel producers such as Steel Authority of India Ltd (SAIL), Essar Steel, Ispat and Jindal also have long term contracts however their share in total sales is lesser that TISCO's. Besides, TISCO is stated to be hardly affected from raw material shortage, as it has its own iron ore mines.